(1) All institutions authorised in the State shall pay contributions to the Fund at least annually.
(2) Union branches operating in the State shall be considered to be institutions for the purpose of this Part.
(3) The resolution authority shall determine an aggregate annual target for contributions referred to in paragraph (1) in order to reach the target level specified in Regulation 165.
(4) For each institution, the resolution authority shall prescribe an annual contribution based on -
(a) the aggregate annual target, and
(b) the allocation methodology described in paragraphs (7) and (8).
(5) Each institution shall meet its annual contribution level through -
(a) levy payments, or
(b) payment commitments, to the extent permitted by the resolution authority in accordance with paragraph (9).
(6) The resolution authority shall prescribe the timing and method for levy payments and payment commitments.
(7) Subject to paragraph (8), the annual contribution of each institution shall be in
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